Note 3 - Investment Securities

9 Months Ended

Sep. 30, 2019

Notes to Financial Statements

Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block]

Note

3

— Investment Securities

We invest in Class L shares of the JPMorgan Managed Income Fund.  The JPMorgan Managed Income Fund has an average maturity of approximately

one

year, duration of approximately

six

months, and approximately

7%

of such fund’s holdings are AAA-rated with

0%

non-investment grade rated. 

Investment securities consisted of the following (in thousands):

	September 30,				December 31,
	2019				2018
	Fair value		Cost		Fair value		Cost
JPMorgan Managed Income Fund	$	40,374	$	40,238	$	72,453	$	72,567